Brazilian police launched "Operation Maya Veil," raiding 87 shell companies to investigate a cryptocurrency money laundering network

According to IBTIMES, Brazilian police announced the launch of "Operation Veil of Maya," executing 9 search and seizure warrants simultaneously in São Paulo, Ribeirão Preto, Porto Alegre, and Canoas to combat a money laundering network involving 87 shell companies. The operation's name is derived from the philosophical concept of "Maya," which refers to the illusion that hides reality.

Investigations show that cryptocurrency primarily plays a role in cross-border fund transfers within this money laundering network, where criminals receive illegal income through shell companies, convert the funds into crypto assets, and then transfer them abroad. Those involved may face charges of money laundering, tax evasion, participation in organized crime, and other related accusations, but the police have not yet disclosed the scale of the funds involved or the quantity of seized assets.